ST Germain D J Co. Inc. Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

ST Germain D J Co. Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,259 shares of the electric vehicle producer’s stock after purchasing an additional 90 shares during the period. ST Germain D J Co. Inc.’s holdings in Tesla were worth $508,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Weybosset Research & Management LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $277,000. ORG Partners LLC grew its stake in Tesla by 2.3% in the fourth quarter. ORG Partners LLC now owns 27,440 shares of the electric vehicle producer’s stock worth $11,081,000 after purchasing an additional 628 shares during the period. Baker Tilly Wealth Management LLC grew its stake in Tesla by 5.9% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 11,626 shares of the electric vehicle producer’s stock worth $4,695,000 after purchasing an additional 648 shares during the period. Marotta Asset Management purchased a new stake in Tesla in the fourth quarter worth $358,000. Finally, Fortitude Family Office LLC grew its stake in Tesla by 5.8% in the fourth quarter. Fortitude Family Office LLC now owns 870 shares of the electric vehicle producer’s stock worth $351,000 after purchasing an additional 48 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 621,886 shares of company stock valued at $213,451,751. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $394.74 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a 50-day moving average price of $376.60 and a 200 day moving average price of $280.59. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 108.15, a P/E/G ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TSLA. Jefferies Financial Group upped their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and upped their price target for the stock from $400.00 to $490.00 in a research note on Tuesday. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $295.69.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.